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Extra Repayments Calculator

Discover how making extra repayments on your home loan could save you years off your mortgage and thousands in interest.

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Loan Details

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%

Extra Repayment

$

Interest Saved

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Time Saved

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Standard Repayment

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/month

With Extra

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/month

Original Interest

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New Total Interest

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Loan Term Comparison

Original term30 years
New term with extra repayments—

How Extra Repayments Work

The Maths Behind It
  • • Each extra dollar paid reduces your outstanding principal
  • • A smaller principal means less interest accrues each month
  • • More of your regular repayment then goes to principal — creating a snowball effect
  • • The earlier you start, the bigger the impact
Frequency Tips
  • • Weekly or fortnightly extra repayments can save slightly more than monthly equivalents
  • • Align extra repayments with your pay cycle for consistency
  • • Even small extra amounts add up significantly over 20–30 years
  • • Check your loan's redraw or early repayment policies

Maximise Your Savings

Smart Strategies
  • • Direct any pay rises straight to your home loan
  • • Use tax refunds and bonuses as lump sum repayments
  • • Round up your repayment to the nearest $100 or $500
Things to Check
  • • Some fixed-rate loans cap extra repayments — confirm with your lender
  • • Variable-rate loans typically allow unlimited extra repayments
  • • Redraw facilities let you access extra repayments if needed

Important

Results are estimates based on a fixed interest rate and consistent extra repayments. Actual savings depend on your lender's terms, interest rate changes, and repayment conditions. This calculator does not constitute financial advice. Please consult a licensed finance professional before making decisions.

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